Castle Peak Holdings, the Denver-based investment firm behind Trailborn, with its focus on outdoor lodging accommodations, has acquired Snow King Resort in Jackson Hole, Wyo., its largest transaction to date, with the intention to fold it under the Trailborn banner.
Late last year, Trailborn hitched up with Marriott International, which entered into a long-term agreement to add Trailborn’s portfolio to Marriott’s system, allowing Trailborn properties to be booked via Marriott.com and gain points through Marriott Bonvoy. Trailborn’s focus is on bringing bespoke hotels built for adventure to the outdoors. Trailborn’s current and pipeline portfolio consists of 559 rooms across five iconic outdoor destinations, with several projects in development.
“We are thrilled to announce Trailborn’s agreement with Marriott, enhancing and underscoring our mission to provide travelers with exceptional access to the country’s most extraordinary outdoor destinations, deliver experiences guests love, and maintain the unique character of Trailborn’s independent spirit,” said Mike Weiss and Ben Weinberg, co-founders and Co-CEOs of Trailborn, at the time of the deal. “Trailborn is excited to work alongside Marriott to provide guests with the perfect blend of comfort and adventure in stunning outdoor settings.”
Snow King spans eight acres at the base of Snow King Mountain and includes ski-in/ski-out access, meeting spaces, a restaurant and both indoor and outdoor spa facilities. It is located within walking distance of downtown Jackson and a short drive from Grand Teton and Yellowstone national parks.
Castle Peak plans to renovate the property. The scope includes upgrades to public areas, the lobby, meeting rooms, food-and-beverage outlets and building exteriors.
“We’re honored to be the next stewards of the resort and excited to collaborate with the local community to create a space that reflects the true essence of Jackson’s culture. Once our renovation is complete, the hotel will offer travelers and locals an elevated experience with family-friendly amenities, expansive meeting and special event spaces, excellent dining, a spa and easy access to world-class skiing as well as Grand Teton and Yellowstone National Park, making it the perfect base for exploring everything this iconic destination has to offer,” said Weiss.
The company describes the acquisition as a continuation of its strategy to expand in high-barrier-to-entry outdoor markets.
“This is Castle Peak at its best — buying off-market in iconic outdoor destinations with growing demand and high barriers-to-entry and executing a tactical repositioning that includes the world’s most powerful distribution platform with Trailborn, our outdoors-focused hotel brand,” said Weinberg. “We’re thrilled to enter Jackson Hole, one of the best-performing, four-season mountain destinations in the United States.”
Trailborn currently operates hotels in Wrightsville Beach, N.C.; Williams, Ariz.; Estes Park, Colo.; and Highlands, N.C. with two new locations expected to open in Mendocino, Calif. Snow King will join this group as Trailborn Jackson Hole.
